The ideology and philosophy of Modinomics customises tailor-made solutions to Indian problems in Indian ways. It is a fusion of prudence, pragmatism and prosperity in sync with democracy, demographic dividend and development

Modinomics is the economics of a welfare state with equity and inclusivity, customised for the relativities of India. To unleash the forces of development from all corners of the country and all ladders of society, in sync with global environmental commitments, Prime Minister Narendra Modi has crafted certain principles, instruments and models to set in a motion to achieve the above mentioned targets.

The Prime Minister wants the positive, potential and dormant forces to give their possible best, whether through demographic dividend, through Skill India or through the establishment of more Indian Institutes of Technology, Indian Institutes of Management, All India Institutes of Medical Sciences or any other institutions of excellence.

From the recently-designed biggest healthcare initiative in the world to reforms in the agriculture sector, like crop insurances, soil health and fertiliser management policies, cold chain and Minimum Support Price enhancements; from digitising rural India to setting up e-libraries supported by the huge infrastructure of National Testing Agency; from developing road infrastructure to rail and air connectivity; from universal electrification supported by 24/7 electricity to modern irrigation techniques; and from ease of doing business to better tax regime and procedures to special emphasis on ‘Make in India’ — these are all game changers of their own kind.

Transparency and predictability through good governance initiatives like e-governance and innovating features for delivering goods and services, better international exposure through aggressive branding of India and familiarisation to reforms made by the Government to the international society, besides the Prime Minister’s personal rapport with global leaders to improve the understanding about India, are some noteworthy features of Modinomics.

There are certain principles on which this philosophy is based:

Rail, road, air connectivity to provide momentum to forces of development, hence, substantive improvements in these areas.

Tax engineering and reforms to incentivise and realise the goals of Make in India.

Affordable and accessible health ecosystem to all through health care initiatives and other educational measures like e-learning and e-libraries.

Long-term targets to make India an axis of global manufacturing hub due to ease of doing business with better tax procedures and administration, creating huge opportunities in the areas of employment and employability.

Strong message to anti-national actors, operating globally.

Making a solar alliance to explore the futuristic possibilities like OPEC etc .

Long term planning for energy security, food security, health and education security.

It is on these points that the philosophy of Modinomics revolve. The ideology and philosophy of Modinomics customise tailor-made solutions to Indian problems in Indian ways. Thus, it is a fusion of prudence, pragmatism and prosperity in sync with democracy, demographic dividend and development.